REC, MAHAGENCO sign MoU to generate power

Rural Electrification Corporation (REC) has signed a Memorandum of Understanding (MoU) extending a term loan worth Rs 13,000 crore to Maharashtra State Power Generation Company (MAHAGENCO).

The MoU has been signed for power generation projects, Flue-Gas Desulfurization (FGD), working capital and special loan requirements.

The MoU was signed between REC Chairman and Managing Director PV Ramesh and Bipin Shrimali, Chairman and Managing Director, MAHAGENCO, in the presence of Maharashtra Chief Minister Devendra Fadnavis and Energy Minister Chandrashekhar Bawankule apart from senior officials from the state government, REC and MAHAGENCO.